Bracket

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Bracket

A term signifying the extent of an underwriter's commitment in a new issue, e.g., major bracket or minor bracket.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Bracket

A group of underwriters responsible for placing a certain amount of a new issue with investors. Brackets are arranged in a hierarchy, which indicates how much of an issue each bracket is placing with respect to the others. The brackets are called, from largest to smallest: bulge bracket, major bracket, minor bracket, underwriter, selling group. The second largest bracket is sometimes called the mezzanine bracket. Brackets are listed in order of size on an advertisement detailing each new issue, known as the tombstone.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
The architectures developed for this effort were, in many cases, the first joint views of how C2 and SA are exchanged currently and how they could be exchanged after convergence at tactical echelons. This workgroup was the first to uncover one of the flaws in our process to date.
The grouping, which now includes the United States, the United Kingdom, Australia, and New Zealand, is sometimes inaccurately known as Echelon, for the software program integrating the Sigint capabilities of the member states.